Bellway is urging first-time buyers can take advantage of the revised Help to Buy scheme to get onto the housing ladder in Tamworth.
The government initiative was previously available on new build homes priced up to £600,000, but following a change to the scheme, properties must now fall within a regional price cap to be eligible. Bellway’s Barley Fields development, off Ashby Road, currently has a selection of two-bedroom houses which are priced below the £255,600 limit for the West Midlands and can therefore be purchased using Help to Buy.
Unlike its predecessor, the new version of the scheme is available only to those who have never previously owned their own home. Help to Buy allows purchasers to secure a new build home with just a 5% deposit and a 75% mortgage. The remaining 20% is provided in the form of an equity loan from the government, which is interest free for the first five years of homeownership.
House types currently available with the scheme at Barley Fields, include the mid-terrace ‘Blacksmith’, priced from £204,995, the mid-terrace ‘Alveston’, priced from £209,995, and the end-terrace ‘Alveston’, starting at £214,500.
Marie Richards, sales manager for Bellway West Midlands, said: “While Help to Buy is no longer available to existing homeowners, the scheme will continue to be a vital tool for first-time buyers trying to get onto the property ladder.
“The range of two-bedroom homes currently available at Barley Fields present a perfect opportunity for aspiring homeowners, as they are all within the new Help to Buy regional price cap and can therefore be purchased with a reduced mortgage and deposit.
“The ‘Blacksmith’ and ‘Alveston’ house types have been carefully designed to reflect the needs of first-time buyers, offering spacious modern living at an attainable price. Both properties include an open-plan living and dining room, a separate kitchen, two bedrooms and a family bathroom.
“I would encourage first-time buyers in Tamworth to contact our sales team at Barley Fields to find out more about Help to Buy and the homes available with the scheme. We have only two Blacksmith house types remaining and expect the remaining homes to sell fast.”
Bellway’s Barley Fields will consist of 483 homes when complete, comprising a range of two-, three-, four- and five-bedroom properties. Find out more from Bellway.
Find retirement homes in Staffordshire
Find Help to Buy homes in Staffordshire
Find new homes in Staffordshire